IMF approves eighth loan installment for Pakistan

ISLAMABAD: International Monitory Fund (IMF) on Saturday will give a go-ahead to the eighth installment of loan worth USD 50.60 crore to Pakistan.


According to details, IMF board is scheduled to hold a meeting tomorrow in Washington DC. The meeting would finalise different matters including approval of loan to Pakistan. USD 50.60 crore is part of the three-year funding agreement.

Earlier, the international reserve lent Pakistan seventh installment of the series in March 2015. A sum of USD 50.14 crore was issued then.

IMF has given Pakistan at least USD 3.70 billion in the past two years.